Jul 28, 2014 (Al Bawaba Business via COMTEX) — Double Crown Resources Reports on Initial Shipment of High Grade Barite to 1st Customer Prior to Long Term Monthly Supply Contract
Logistical Supply Channel Set-Up for Regular, Large Capacity Shipments to Multiple Petroleum Industry Customers Worldwide
HENDERSON, Nev. (FSCwire) – July 28, 2014 – Double Crown Resources, Inc. (OTCQB: DDCC), a fully reporting company, (hereinafter, “Double Crown”) would like to provide an update on recent progress with the shipment of high grade barite ore for the company’s first signed purchase order. This order was placed earlier in 2014 from a very well established oilfield service company based in Texas. We are pleased to report that final arrangements for this initial shipment of 200 metric tons from Double Crown’s high grade barite source in Mexico have been completed and delivery directly to an active drilling site is expected by August 15th. Once delivery is made, the ore will be processed on site and put to immediate test drilling use within 48 hours. Double Crown management is very confident that our product will pass all of the testing requirements as we have already conducted our own stringent product quality evaluations. Upon successful completion of the test drilling operation, it is anticipated that our customer will move forward with the signing of a planned, 5-year supply purchase contract for regular monthly shipments of Double Crown’s high grade barite product.
All of Double Crown’s customers have expressed a strong desire to purchase our products over other choices because of the superior quality we are able to offer. Our barite sources in Mexico and elsewhere meet or exceed the highest standards of the American Petroleum Institute (API). A high grade barite product allows oilfield drillers to obtain significantly more productive and efficient results than lower grade materials offered by other suppliers. The mineral barite is used primarily as a key weighting agent in both on-shore and off-shore drilling operations. Double Crown is now completing its logistical channel network to supply industrial quantities of high grade barite ore anywhere in the world. Going forward, we will provide fully processed products from our strategically located New Orleans, Louisiana processing plant & bulk terminal after this facility completes renovations and upgrades which have already been fully master planned. This plant will work in conjunction with Double Crown’s multi-advantage, patent-pending aggregate material transport system to deliver top quality barite, fracturing sand, guar gum and related materials at standards of cost affordability, shipment efficiency and environmental safety well beyond current industry norms.
Regarding these latest developments, President Allen E. Lopez commented, “Our team at Double Crown Resources has worked very hard to overcome some unexpected logistical issues with the shipment of this initial order for our high grade barite but those issues, and the delays they caused, have finally been resolved to our satisfaction. We are now ready to begin fulfilling our most important company mission of oilfield commodity supply. We have been told by our customers, which include some of the largest names in the worldwide petroleum energy market, that superior quality drilling materials mean a great deal to them. They are anxious to do business with suppliers who can effectively provide such materials in large capacity shipments on a regular basis to wherever they are needed. This is the reason we have made such extensive efforts to procure top quality products from around the globe and to employ all of our domestic and international industry connections to work out the many complicated logistical factors involved in creating a reliable delivery system our customers can depend upon. We are very much looking forward to the upcoming delivery of our first commercial product shipment and to the expected signing of its associated long term monthly supply agreement with the customer. This contract, and numerous others now in late stage development, will be announced with further details upon signing.”
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration and development company holding a 100% interest in the Bateman gold & nickel prospect near Thunder Bay, Ontario, Canada. In addition, Double Crown is targeting new properties as well as oilfield supply & service projects that have the potential for near-term positive cash flow. The company is presently reviewing a number of new natural resource properties that are near to, or in production, located in North, South and Latin America. Multiple oilfield service projects are currently under active development. Double Crown Resources, Inc., originally founded in 2006, is based in Henderson, NV.
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You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as “will,” “anticipates,” “believes,” “plans,” “goal,” “expects,” “future,” “intends,” and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Double Crown Resources, Inc., please refer to its website athttp://www.doublecrownresources.com/.